Yep... A sad end indeed and I still do not appreciate the way it ended with the 5 meters of bullshit after the PR of a dry well...
Ray...What the hell were you thinking???
Item 1.02 Termination of a Material Definitive Agreement.
As previously reported, Hyperdynamics Corporation (“we,” “us,” “our” or the “Company”) had notified the government of the Republic of Guinea that it was seeking a two-year appraisal period under its oil and gas Production Sharing Contract. On December 7, 2017, we were notified verbally in a meeting with the government of Guinea that it would not grant the two-year appraisal period.
Also as previously reported, on November 2, 2017, we executed a stock purchase agreement to issue and sell 40 million shares of our common stock at a price of $0.15 per share (for a total purchase price of $6,000,000) to CLNG Limited (Hong Kong) (“CLNG”) or its affiliate. The closing of the sale was subject to, among other things, the completion of satisfactory due diligence by each party of the other. On December 11, 2017, CLNG informed us that it will not proceed with the purchase of those shares, and the stock purchase agreement is terminated (except for certain indemnification obligations therein).
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